PXtech Limited - Accounts to registrar (filleted) - small 18.1
PXtech Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2017 |
| for |
| PXtech Limited |
| PXtech Limited (Registered number: 03828076) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PXtech Limited |
| Company Information |
| for the Year Ended 30 September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| PXtech Limited (Registered number: 03828076) |
| Balance Sheet |
| 30 September 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| PXtech Limited (Registered number: 03828076) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| PXtech Limited is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is |
| recognised in the period in which the goods and services were provided. |
| Computer software |
| Intangible fixed assets are stated at historical cost less accumulated amortisation and impairment |
| losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
| location and condition necessary for it to be capable of operating in the manner intended by |
| management. |
| Amortisation is provided at the following annual rate in order to write off each asset over its estimated |
| useful life: |
| Computer software | - 33% reducing balance |
| The assets' residual values, useful lives and amortisation methods are reviewed, and adjusted |
| prospectively if appropriate, or if there is an indication of a significant change since the last reporting |
| date. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated |
| residual value of each asset over its estimated useful life: |
| Improvements to property | - | 10% on cost |
| Plant and machinery | - | 20% on reducing balance |
| Fixtures and fittings | - | 20% on reducing balance |
| Computer equipment | - | 33% on reducing balance |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow |
| moving and obsolete items. |
| Cost represents the invoiced cost of materials and parts on a first in first out basis and an appropriate |
| amount of fixed and variable overheads. |
| Deferred tax |
| Provision is made at current rates for taxation deferred in respect of all timing differences. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| PXtech Limited (Registered number: 03828076) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 October 2016 |
| and 30 September 2017 |
| AMORTISATION |
| Charge for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| PXtech Limited (Registered number: 03828076) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Warranty in advance | 4,932 | 17,892 |
| Licence fees in advance | 723 | 723 |
| Accruals and deferred income |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Between one and five years |